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Business & FinanceDeals
Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.
Why it matters
The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today’s prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: IndiaRussia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
